SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 19, 2002
HF FINANCIAL CORP.
(Exact name of registrant as specified in its charter)
Delaware |
| 0-19972 |
| 46-0418532 |
(State or other jurisdiction of |
| (Commission File Number) |
| (I.R.S. Employer |
incorporation or organization) |
| Identification No.) |
|
|
225 South Main Avenue, Sioux Falls, SD |
| 57104 |
(Address of principal executive office) |
| (ZIP Code) |
(605) 333-7556
(Registrant’s telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
ITEM 5. Other Events.
On December 19, 2002, the Company issued 5,000 shares totaling $5.0 million of Company Obligated Mandatorily Redeemable Preferred Securities of HF Financial Capital Trust III, (the “Trust”). The Trust exists for the sole purpose of issuing trust preferred securities and investing the proceeds in subordinated debentures of the Company. These subordinated debentures constitute the sole asset of the Trust. The securities provide for cumulative cash distributions calculated at a rate based on three-month LIBOR plus 3.35%. The Company may, at one or more times, defer interest payments on the capital securities for up to 20 consecutive quarterly periods, but not beyond January 7, 2033. At the end of the deferral period, all accumulated and unpaid distributions will be paid. The capital securities will be redeemed on January 7, 2033; however, the Company has the option to shorten the maturity date to a date not earlier than January 7, 2008. Holders of the capital securities have no voting rights, are unsecured, and rank junior in priority of the payment to all of the Company’s indebtedness and senior to the Company’s capital stock.
2
FORM 8-K
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
|
|
|
| HF Financial Corp. | |
|
|
|
| (Registrant) | |
|
|
|
|
|
|
|
|
|
|
|
|
Date: December 20, 2002 |
|
|
| by | /s/ Curtis L. Hage |
|
|
|
|
| Curtis L. Hage, Chairman, President |
|
|
|
|
| And Chief Executive Officer |
|
|
|
|
| (Duly Authorized Officer) |
|
|
|
|
|
|
Date: December 20, 2002 |
|
|
| by | /s/ Darrel L. Posegate |
|
|
|
|
| Darrel L. Posegate, Senior Vice President |
|
|
|
|
| And Chief Financial Officer |
|
|
|
|
| (Principal Financial and Accounting Officer) |
3
